HangZhou Nbond Nonwovens Co (SHSE:603238) Scaled Net Operating Assets: 0.23 (As of Mar. 2026)

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SHSE:603238 HangZhou Nbond Nonwovens Co Ltd SHSE:603238
63 GF Score
Price ¥11.58
GF Value ¥20.56
Valuation Significantly Undervalued
! 4 Warning Signs
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What is HangZhou Nbond Nonwovens Co Scaled Net Operating Assets?

HangZhou Nbond Nonwovens Co SHSE:603238 +0.35% 63 Scaled Net Operating Assets is 0.23 as of Mar. 2026. GuruFocus rates SHSE:603238 with a GF Score™ of 63/100 and a GF Value™ of ¥20.56 (Significantly Undervalued). The stock has 4 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

HangZhou Nbond Nonwovens Co's operating assets for the quarter that ended in Mar. 2026 was ¥2,508 Mil. HangZhou Nbond Nonwovens Co's operating liabilities for the quarter that ended in Mar. 2026 was ¥1,709 Mil. HangZhou Nbond Nonwovens Co's Total Assets for the quarter that ended in Dec. 2025 was ¥3,398 Mil. Therefore, HangZhou Nbond Nonwovens Co's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.23.


HangZhou Nbond Nonwovens Co Scaled Net Operating Assets Historical Data

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The historical data trend for HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

HangZhou Nbond Nonwovens Co Scaled Net Operating Assets Chart

HangZhou Nbond Nonwovens Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.56 0.54 0.47 0.45 0.31

HangZhou Nbond Nonwovens Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.41 0.37 0.33 0.27 0.24

HangZhou Nbond Nonwovens Co Scaled Net Operating Assets Competitor Comparison

For the Textile Manufacturing subindustry, HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


HangZhou Nbond Nonwovens Co Scaled Net Operating Assets vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets falls into.


SHSE:603238
63GF Score
HangZhou Nbond Nonwovens Co Ltd SHSE:603238
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

HangZhou Nbond Nonwovens Co Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(2420.978-1548.316)/2812.427
=0.31

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=3397.933 - 976.955
=2420.978

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1662.841 - 22.111 - 92.414
=1548.316

HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(2507.816-1709.338)/3397.933
=0.23

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=3613.576 - 1105.76
=2507.816

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1839.14 - 48.736 - 81.066
=1709.338

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.23 mean?
HangZhou Nbond Nonwovens Co (SHSE:603238) has a Scaled Net Operating Assets of 0.23 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on HangZhou Nbond Nonwovens Co and its competitors.
Is HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets too high?
HangZhou Nbond Nonwovens Co's current Scaled Net Operating Assets is 0.23. Overall, HangZhou Nbond Nonwovens Co has a GF Score™ of 63/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets compare to competitors?
HangZhou Nbond Nonwovens Co's Scaled Net Operating Assets of 0.23 can be compared against companies in the Manufacturing - Apparel & Accessories industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Manufacturing - Apparel & Accessories company?
A good Scaled Net Operating Assets depends on the Manufacturing - Apparel & Accessories industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on HangZhou Nbond Nonwovens Co and its competitors. HangZhou Nbond Nonwovens Co's current Scaled Net Operating Assets is 0.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HangZhou Nbond Nonwovens Co stock overvalued right now?
Based on GuruFocus' analysis, HangZhou Nbond Nonwovens Co (SHSE:603238) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥20.56, compared to a current price of ¥11.58 — trading 43.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.23. HangZhou Nbond Nonwovens Co's overall GF Score™ is 63/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For HangZhou Nbond Nonwovens Co (SHSE:603238), the current Scaled Net Operating Assets is 0.23 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is HangZhou Nbond Nonwovens Co (SHSE:603238) Overvalued in 2026?

Based on GuruFocus' analysis, HangZhou Nbond Nonwovens Co stock appears to be undervalued. The current stock price of ¥11.58 is trading 43.7% below its estimated GF Value™ of ¥20.56. GuruFocus considers HangZhou Nbond Nonwovens Co to be Significantly Undervalued.

Key valuation signals for SHSE:603238:

  • Scaled Net Operating Assets: 0.23
  • GF Value™: ¥20.56 vs. price of ¥11.58 (43.7% below fair value)
  • GF Score™: 63/100 with 4 warning signs

No single metric tells the full story. See the SHSE:603238 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


HangZhou Nbond Nonwovens Co Business Description

Address No. 8 Changda Road / No. 16 Hongda Road, National Economic and Technological Development Zone, Zhejiang Province, Linping District, Hangzhou, CHN, 311102
HangZhou Nbond Nonwovens Co Ltd is a China-based company engages in the production and sale of non-woven fabrics. The Company is a company specializing in the research and development, production and sales of differentiated and personalized spunlace nonwoven materials and their products. The spunlace nonwoven materials produced by the Company are mainly used in four product areas: beauty care, industrial materials, civil cleaning, and medical materials. The Company's products are divided into two categories: spunlace nonwoven materials and spunlace nonwoven material products.
63GF Score

Get the complete analysis for SHSE:603238

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

¥11.58
Price
¥20.56
GF Value